The lease renewal will maintain the national mortgage investment firm’s corporate headquarters at 4425 Ponce De Leon Boulevard. Bayview Asset Management has occupied the space since the office building was delivered to the market in 2002.

“We were able to achieve terms for GGP to accommodate the tenant’s needs, which included ample on-site parking and facility improvements geared toward upgrading the tenant’s floors,” said Hurwitz. “We are pleased that Bayview Asset Management will remain in the building. This is a strong statement for both the project and the thriving Coral Gables submarket.”

Shops at Merrick Park Office is a Class A, five-story office building comprised of 126,019 square feet. The tower is situated immediately adjacent to the area’s high-end retail and dining destination, Shops at Merrick Park, which features anchor tenants Neiman Marcus and Nordstrom. It enjoys exposure to U.S. 1 and is within walking distance to Metrorail and the Coral Gables Trolley Station.

Coral Springs, Fla. — CREC has arranged the $27.4 million sale of Turtle Crossing, a 99,174-square-foot shopping center located roughly 20 miles northwest of Fort Lauderdale in Coral Springs.

The property is shadow-anchored by a 174,000-square-foot Super Target, and home to tenants including Enterprise Rent-A-Car, Panda Express, AutoZone, Panera Bread, Buffalo Wild Wings, Vision Works and Chipotle Mexican Grill.

Warren Weiser and Harry Blyden of CREC represented the seller, Turtle Run Venture LLC, in the transaction. There was no broker representation for the buyer, Turtle Crossing Coral Springs LLC, a joint venture between Ross Realty Investments and SunCap Real Estate Investments.

The new regional headquarters for Pollo Tropical includes an open floor plan of offices and conference space surrounding a roughly 1,100-square-foot test kitchen. The company went from leasing about 17,000 square feet on noncontiguous floors in an older building in the Dadeland area, plus a test kitchen in Doral, to a smaller and centralized space.

“They had grown over decades into a space that was no longer efficient and it didn’t accommodate their culture. They wanted to consolidate offices, their training facility and test kitchen under one roof with ease of access, abundant onsite parking and onsite amenities,” Brooks told TRD. “Those requirements – the parking and test kitchen – were inherently limited and that pushed us geographically.”

The building is within the Landing at MIA office park, which recently underwent a $17 million renovation, according to a press release. Records show SPUS7 Miami ACC Land LP owns the 50-acre complex. The limited partnership, which is controlled by CBRE Global Investors principal Claudia Walraven, paid $129.25 million for the office community in 2014.

Brooks declined to provide terms of the lease, including rents, but said that in general rents are lower in the Dadeland submarket, and that it’s difficult to compare rent within the airport submarket because of the kitchen and training facilities.

The popular fast-casual chicken restaurant chain added skylights to the building as part of the extensive build-out. Gigi Alvarez of G. Alvarez Studio designed the new headquarters.

“It’s so cool. We really talked a lot about culture; food is what they do, so the kitchen now is exposed to the central work area. Everybody has a view,” she said.